TransferWise, Mastercard expand global partnership

Mastercard has built a strong partnership with TransferWise, working with the global technology company since its issuance of its first debit card in Europe in 2018. TransferWise currently partners with Mastercard across the EEA, US, Singapore, Australia, and New Zealand, with Japan due to launch later in 2020. This expansion of the relationship will allow a route to market in nearly all countries around the world.

With its multi-currency borderless account, TransferWise aims to replace old world international banking for its audience of expats, freelancers, businesses, and travellers. Its customers are increasingly using the borderless account as an international banking alternative, with new features including direct debits and instant international payments to friends. The Mastercard and TransferWise teams worked collaboratively to enable Apple and Google Pay, Fitbit and Garmin Pay across the EEA for all TransferWise cards.

In addition to card issuance, leveraging Mastercard Send, TransferWise has launched the capability for TransferWise account holders to be able to send money in near-real time to Mastercard cards in European countries including Spain, Romania, Bulgaria, Czech Republic, Hungary, Poland, Ukraine, Georgia, Croatia, and Russia.